GLG's Roman named Man Group chief operating officer

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LONDON | Wed Sep 1, 2010 9:37am EDT

LONDON (Reuters) - British hedge fund company Man Group Plc named GLG head Emmanuel Roman as its chief operating officer on Wednesday, to help Man Group integrate its recent acquisition of the GLG business.

Man (EMG.L) had faced questions over how it proposed to marry the diverse cultures associated with the two fund businesses, and a spokesman said Roman's appointment was an attempt to address those concerns.

"It means that he will be fully integrated into the business while GLG GLG.N remains autonomous enough to carry on doing what it does well," said the company spokesman.

He added that Roman would take on responsibility for technology and sales support in the chief operating officer's role, as well as sitting on the management board.

Noam Gottesman will remain co-CEO of GLG with Emmanuel Roman and will run GLG's global opportunity strategy, Man Group said in a statement.

Roman spent 18 years at Goldman Sachs (GS.N) after first joining the American investment bank in 1987.

He then joined GLG Partners in September 2005 as a co-chief executive and witnessed GLG's $1.6 billion takeover by Man Group earlier this year, which shareholders approved on Wednesday.

In July, Man Group reported a drop in its funds under management as clients pulled out cash for a seventh straight quarter.

(Reporting by Sudip Kar-Gupta and Joel Dimmock; Editing by Hans Peters)

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